Investors withdrew about $14.8 million in January from Bill Gross’s Janus Global Unconstrained Bond Fund, the third consecutive month of net redemptions, according to Bloomberg estimates.
The $1.3 billion fund, which invests in fixed-income securities and derivatives based on global macroeconomic trends, is up 0.28 percent this year through Feb. 5, ranking in the top 8 percent of its peers, according to Morningstar Inc.
Gross, who manages the fund with Kumar Palghat, warned in a Feb. 3 investment outlook that global central bankers are “increasingly addled” as their low and negative interest rate policies fail to produce sustainable growth.
“Don’t go near high risk markets,” he advised investors in the note. “Stay safe and plain vanilla.”
Gross, 71, took over the Janus fund in October 2014 after being ousted from Pacific Investment Management Co., where he led the Pimco Total Return Fund to become the world’s largest mutual fund.
Investors pulled about $57 million from the Janus fund in December and withdrew $74 million in November after adding $5.9 million in October, according to Bloomberg estimates.
Redemption estimates for the Janus fund are based on the change in assets over the month that isn’t accounted for by performance. The number may vary from actual figures and from estimates compiled by other data providers. Janus spokeswoman Erin Passan declined to comment.